QUESTION ON BRANCH ACCOUNTING

This query is : Open

MANISH KR. SHARMA (Querist)
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04 October 2010 RESPECTED ALL,

I WANT TO KNOW AS BELOW

WE ARE TRANSFERRED OUR GOODS TO OUR OTHER BRANCHES AT VARIOUS STATES @ COST PLUS SOME MARGINS AGAINST FORM `F` I HAVE TWO QUESTION REGARDING THIS AS BELOW

1. AT THE END OF THE YEAR WHAT IS THE TREATMENT OR JOURNAL ENTRY OF CLOSING STOCK IS HELD AT BRANCH IN WHICH THE PROFIT WAS INCLUDED.

2. SOME STOCK IS ALSO TRANSFERRED AT THE 30TH MARCH WHICH IS IN TRANSIT IT HAS ALSO CONTAINING THE PROFIT MARGIN SO WHAT IS THE JOURNAL ENTRY OF THE SAME AND WHAT IS THE TREATMENT OF PROFIT INCLUDING IN THE STOCK IN THE TRANSIT

MANISH KR. SHARMA

MANISH KR. SHARMA (Querist)
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25 January 2011 RESPECTED ALL,

I WANT TO KNOW AS BELOW

WE ARE TRANSFERRED OUR GOODS TO OUR OTHER BRANCHES AT VARIOUS STATES @ COST PLUS SOME MARGINS AGAINST FORM `F` I HAVE TWO QUESTION REGARDING THIS AS BELOW

1. AT THE END OF THE YEAR WHAT IS THE TREATMENT OR JOURNAL ENTRY OF CLOSING STOCK IS HELD AT BRANCH IN WHICH THE PROFIT WAS INCLUDED.

2. SOME STOCK IS ALSO TRANSFERRED AT THE 30TH MARCH WHICH IS IN TRANSIT IT HAS ALSO CONTAINING THE PROFIT MARGIN SO WHAT IS THE JOURNAL ENTRY OF THE SAME AND WHAT IS THE TREATMENT OF PROFIT INCLUDING IN THE STOCK IN THE TRANSIT